Why RSP Permian (RSPP) Stock Is Falling Today

NEW YORK (TheStreet) -- RSP Permian (RSPP) was falling -1.3% to $25.56 Thursday after announcing the pricing of its 10 million share offering.

The company priced the 10 million share offering at $25.65 a share. RSP Permian will sell 4,166,667 shares in the offering, while certain shareholders will sell the remaining 5,833,333 shares in the 10 million share offering.

RSP Permian expects net proceeds of $102.3 million from the offering, which it plans to use to repay amounts under its revolving credit facility.

Must read: Warren Buffett's 25 Favorite Stocks

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RSPP ChartRSPP data by YCharts

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